Use of the Corporate American Express Card

The Corporate American Express Card is issued for use on college business only. It is not to be used for personal expenses, even with the intention to reimburse the College. The card is to be kept in a safe place.

American Express monthly billing statements are available online and will also be mailed directly to each cardholder upon request to American Express. It is the responsibility of the cardholder to review the statement for accuracy and to submit it for payment promptly as described below. Please be aware that late payments incur charges and will be reflected on your personal credit report, possibly jeopardizing your credit rating. Late fees, if incurred, are the responsibility of the cardholder and may not be charged to the College. The card balance must be paid in full each month. The cardholder is responsible for contacting American Express within the specified timeframe if the cardholder disputes any charges.

The monthly cut-off date for each statement is approximately the 10th of the month. Statements approved for payment should be submitted along with an approved American Express Fill-in Form and related receipts to Accounts Payable in a timely fashion in order to avoid late payment fees.

If a card is lost or stolen, the owner must notify Human Resources (x2315) immediately upon the discovery that it is missing. Human Resources will cancel the missing card and order a replacement.

Do not use the Corporate American Express Card (or a personal credit card) to purchase equipment or software, as this would make it impossible to implement purchasing controls.

Procedures for Processing American Express Statements for Payment

IRS regulations require an explanation of the business purpose of each charge. Please indicate on the statement next to each charge (or by reference in another area of the statement) a short explanation of the business purpose. Complete the American Express Fill-in Form as follows:

Enter card number, date, cardholder name, department, date of statement, and due date for payment of the statement.

Summarize charges by budget account number. The fill-in form automatically computes the total.

Sign the form; obtain approval of your department head or dean as appropriate.

Legibly print the name of the department head or dean who will approve the charges.

Submit the statement and the request form to Charlotte Stephenson in Accounts Payable (Controller’s Office) for payment. To keep track of your American Express account, you may access your account online via americanexpress.com, by typing in your account number and a password which you can create.

Additional Information is in the Expense Reimbursements Policy. Questions should be directed to either Human Resources (x2315) or Accounts Payable (x2554).